The UK, German and Italian economies are all tanking at the same time

Three of Europe's biggest economic engines — the UK, Germany, and Italy — are sputtering simultaneously.

Eurozone growth looks "dire" in the second quarter, Pantheon Macroeconomics said in a report on July 22, "primarily thanks to a crash in German growth."

The economists see "elevated risks of outright falls in Italian and German GDP," despite the "resilient" economies of France and Spain.

Outside of the eurozone, but not yet out of Europe, the UK is stumbling as well. The National Institute for Economic and Social Research, said that uncertainty surrounding the decision to leave the EU three years ago means there's a one-in-four chance the economy could already be in recession.

https://markets.businessinsider.com/news/stocks/uk-german-and-italian-economies-all-tanking-at-same-time-2019-7-1028376665

South Korean fighters fire hundreds of warning shots at Russian military plane

South Korean fighter jets fired over 400 warning shots and Japan complained to Moscow on Tuesday after a Russian military plane violated airspace claimed by both Seoul and Tokyo.

Seoul said a Russian A-50 warplane twice entered South Korean airspace near the disputed Dokdo islets which Japan calls Takeshima.

Seoul officials said they responded by scrambling F-15K and KF-16 fighters, which first issued warnings and fired flares. They fired 80 warning shots at the plane during the first breach, and 280 rounds during the second, a military official told AFP.

“We are assessing this incident in a very grave manner and will take a much tougher measure if it happens again,” said National Security Advisor Chung Eui-yong, according to the Blue House spokeswoman.

Japan complained to both Moscow and Seoul over the incursion.

https://www.france24.com/en/20190723-south-korea-russia-fighter-plane-fire-military-seoul-moscow